The EURUSD pair exhibited robust negativity in recent sessions, successfully reaching the anticipated level of 1.0765. This achievement aligns with the projected negative targets, primarily influenced by the completion of the head and shoulders pattern and the downward pressure exerted by the EMA50. The next set of envisaged targets involves further declines, with a focus on reaching 1.0645.
The outlook suggests a continuation of the downward trajectory in the upcoming sessions, with the level of 1.0765 serving as a critical point. The consolidation of this level against the existing negative pressure could prompt attempts at recovery, potentially pushing the price towards the 1.0865 areas before any subsequent decline.
For today’s projected trading range, it is expected to fluctuate between the support level at 1.0690 and the resistance level at 1.0840. Traders are advised to remain vigilant and closely monitor critical levels for potential shifts in market dynamics.
In summary, the prevailing trend for today leans decisively towards the bearish side for the EURUSD pair, with the accomplishment of the negative target at 1.0765. The scenario may witness changes based on the price’s reaction around key levels, particularly the support and resistance levels highlighted.